Latest News
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The Tour de France stage nine will be shortened due to the heatwave.
The organisers of the race announced on Saturday that Sunday's stage nine will be reduced by 30 km due to heat risks. However, it will still have its original start and finish locations. In a press release, the organizers announced that the stage from Malemort, originally planned for 185.5km, will now be a 155.5km route. The statement said that Meteo-France had placed the Department of?Correze under red alert because of an intense heatwave. "In light of that... the race is going to?divert the original route in the neutral area, taking the D921 from Brive-la-Gaillarde and heading straight to Lanteuil 147.8km from the finish at Ussel." Western Europe has experienced the warmest June in?record. This led to an increase in deaths due to heat. The heat forced French nuclear reactors to reduce output on Friday. The organisers stated that "all government offices, local authorities and security forces as well as emergency and health services and accredited civil protection organisations, volunteers, and other stakeholders are fully committed to making sure this stage runs smoothly." After the eighth stage, the four-time Slovenian champion,?Tadej Pogacar, is leading. (Reporting by Vincent Daheron; Writing by Chiranjit Ojha in Bengaluru)
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Iran's supreme Leader vows revenge for the slain father
Ayatollah?Khamenei, Iran's supreme leader, issued a written statement on Saturday threatening vengeance on behalf of his father and predecessor. He added that the vengeance would not be limited to Iran alone but also depend on the "free people" around the globe. The statement, read out on state TV, said that revenge was "the nation's demand" and "must definitely" be carried out. Ayatollah Khamenei died in an airstrike by the U.S. and Israel on?February 28 at the beginning of the war. The statement stated: "We promise to avenge all martyrs and criminals in these two wars, and the blood shed by the martyred leader." Mojtaba Khmenei has not been seen in public by Iranians since March 8, when he was named supreme leader. Senior sources claim that he suffered facial disfigurement as well as other injuries. The statement stated that "whether we are there or not, this will be achieved, and soon, every free person in the world will fulfill their part of this divine task." The U.S.-Iranian exchange of fire this week raised doubts about the truce that Washington and Tehran agreed to end their four-month war. Iran claims the deal will bring major economic benefits. Donald Trump declared that the ceasefire was over on Friday, but added that both countries agreed to continue talks. The continued absence of Mojtaba Khamenei from the public eye - there have been no photos, videos or audio recordings published since the air attack - has increased the uncertainty facing Iran. Some Iranians say the new leader should be seen, even if injured. With the support of the Revolutionary?Guards, he became the supreme leader. Ayatollah Khamenei was buried at the country's holiest site, according to state media, on Friday after massive crowds attended his funeral. (Reporting and editing by Enas Alashray, Ahmed Elimam, Tomasz Janovski, Joe Bavier, Thomas Perry)
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Russia attacks Ukraine with drones and missiles, killing two people and injuring 19 others
Officials said that Russia attacked Ukraine on Saturday with drones and missiles, killing two people and injuring 19. Kyiv is waiting for supplies of air defense munitions due to a shortage, which has left the country vulnerable to Russian attacks. A drone attack and a missile attack using ballistic, cruise, and cruise missiles in Kyiv's capital caused 11 injuries. "Civilian infrastructure had been hit before the air raid warning was issued," said President Volodymyr Zelenskiy, who added that rescuers are working at the scene. "Our defenders were able to shoot down the majority of the targets, but not ballistics," he said, calling on Ukraine’s allies for a quick delivery of the air defence support packages agreed at the NATO Summit this week. Ukraine's Air Force said that Russia had launched six ballistic rockets, six cruise missiles, and 121 drones. It also added that at least two cruise weapons and 111 drones were?downed. A drone struck a civilian enterprise located in Kharkiv in eastern Ukraine, injuring seven people. UKRAINE REQUESTS SUPPLIES FROM ALLIES In the last month, Ukraine has been largely unsuccessful in destroying ballistic missiles that travel at speeds several times faster than sound. The Ukrainian government has asked allies for more munitions and urged Europe to collaborate with Kyiv in developing its anti-ballistic system. The U.S. president Donald Trump announced this week that Ukraine would be given a license to manufacture its own Patriot missiles. After the attack on Saturday, Zelenskiy demanded that "those projects" move as quickly as possible. In recent weeks, Russia has intensified its attacks against the capital. In the last month, more than 60 people have been killed in strikes against Kyiv and its surrounding area. Kyiv has, on the other hand, 'been pressing Russia's military logistic in occupied Southern Ukraine by conducting strikes against trucks and vessels deep behind front lines. Robert Brovdi, Ukraine's drone forces chief, said that his units had struck 21 fuel tanker ships in the Sea of Azov over night, along with seven other cargo and supply vessels, bringing this week's total to 76 vessels. Max Hunder, Kyiv (Reporting and Editing by William Mallard Tomaszjanowski and Barbara Lewis).
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Trump Administration rule weakens protections of threatened species
The 'Trump administration' finalized on Friday, a major change to how threatened species are considered by agencies. They removed?regulatory lingo aimed at preventing damage to wildlife habitats and drew a legal challenge. The Endangered Species Act is no longer applicable. It was passed 50 years ago and has been credited for saving the bald eagle and California condor, among many other animals and plants, from extinction. The Endangered Species Act is an important?regulatory factor for government agencies in granting permits to oil and gas, mining and?electrical transmission operations and other activities on federal lands or water. The new rule excludes "habitat destruction" from the definition of "harm" under the ESA. This means that project developers can 'damage places where wildlife lives as long as the wildlife is not directly injured or killed. Interior and Commerce departments said that the final rule would reduce costs associated with permitting and compliance for energy producers, farmers, fishing interests and others. This move is in line with President Donald Trump's desire to reduce the regulations that, according to him, limit American businesses. Interior Secretary Doug Burgum stated that "this?action restores the common sense and respects private property. It provides much-needed clarity for landowners, and it follows the statute Congress passed." The rule was proposed by the administration in April 2025. Earthjustice, an environmental?group, said that it would sue. Earthjustice attorney Kristen Boyles said that for the first time, a president's administration has claimed?that species protected under the Endangered Species Act should not be safe from habitat modifications that destroy where they live, their young or look for food. "Let's be clear: the Trump administration's regulation has no support -- scientific, legal, or public. (Reporting and editing by Nichola?Groom, Sanjeev Miglani, Chizu Nomiyama)
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Cuba's grid goes down for the second time in a week
Cuba's electrical grid went down on Friday, the second time this week and the fourth this year. Cuba's Energy Ministry said on social media that "protocols" were being activated in order to 'begin recovery'. Grid?operator UNE has begun efforts to'restore power' to the island's millions?of?residents. The collapse followed a previous nationwide outage that occurred on Monday. Although the authorities managed to reconnect the grid for most of the island by late Tuesday night, many parts of the country remained without power due to severe fuel shortages. This included Santiago de Cuba. Yailin Garcia, 26, sat outside her dimly-lit cafe and pizza place in central Havana with her 5-month old baby on her shoulders. She and her family opened La Criolla just a few short weeks ago. Friday was the second time that the electrical grid collapsed. She said, "All of the food spoils is an economic loss." She knew that it could be worse. She said that her neighborhood, located on the outskirts the capital, suffers from severe energy shortages. For the past month, her home only received electricity for an hour to two hours a day. After Washington deposed Venezuelan president Nicolas Maduro in January, Donald Trump imposed a?oil-blockade on the Caribbean Island. Venezuela was Cuba's main fuel supplier, and U.S.-led pressure led Mexico to stop oil shipments. RISE IN TENSIONS After Monday's nationwide power outage, the chronic power failures exacerbated social tensions and sparked scattered protests with pot banging in Havana. The unrest reminded me of the demonstrations that took place on July 11, 2021 when thousands of Cubans marched in the streets to protest the communist government. Havana says that the U.S. embargo on Cuban trade has caused its infrastructure to fail, but Washington claims the blackouts were due to Cuba's mismanaged economy. The U.S. has openly declared its goal to overthrow Cuba's government. It demands democratic elections, and the?release? of prisoners that it claims are held on a purely political basis. In a U.N. General Assembly discussion on Tuesday, U.S. Michael Waltz, the U.N. Ambassador, blamed Havana for the situation, saying, "Change the way you do things and bring the light back on for your citizens." The majority of the countries who spoke at the debate called for Washington to reverse the sanctions and end the blockade that has crippled the island's economy. Bruno Rodriguez Parrilla is Cuba's minister of foreign affairs. He said that the U.S. economic and fuel sanctions were a collective punishment, a violation of human rights for an entire population. He called the U.S. policies towards the island, "cruel" and "ruthless." Reporting by Natalia Siniawski, Ayose Naranjo, and Laura Gottesdiener from Havana. Editing by Daina Bet Solomon and Aurora Ellis.
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Holtec Nuclear Corporation files for US IPO amid surging power demand
Holtec Nuclear Corporation, an energy company in the United States, filed for an initial public offer. Holtec Nuclear Corporation filed for an initial public offering in the United States on Friday. After a few years with muted issuances the U.S. IPO has experienced a resurgence. Larger deals and AI-linked listing have driven dollar volumes to record levels even though the number of offerings remain?far below previous boom-era peaks. The government's?drive to quadruple U.S. nucleonic capacity by 2050 in order to meet the rising demand for power from?data centres, electric vehicles, and cryptocurrency mining has also benefited energy sector IPOs. Holtec was founded in 1986 and supplies nuclear equipment and manages spent nuclear energy. It also develops small modular reactors, which are said to be more cost-effective than larger models that take years to build. The company has been tasked with restarting the Palisades Nuclear Plant, which shut down in 2022 after more than 50 years of operation. Holtec received $400 million in funding from the U.S. Department of Energy for the construction of?two SMRs on the site. X-energy, Deep Fission and other companies have been publicized this year in order to fund the development of small modular reactors. Holtec, based in Camden, New Jersey, posted a net income of $17.8 mln on revenues of 165.3 mln for the quarter ended March 31 2026. This compares to a net profit of $25.4 mln on revenue of 170.7 mmln a year ago. The IPO proceeds will be used to fund the SMR-300 reactor project, expand manufacturing capabilities and support other growth initiatives. J.P. Morgan and Goldman Sachs, as well as Citigroup, are the main underwriters of the offering. Holtec plans to list its shares under the symbol HNUC on Nasdaq, Nasdaq Texas and Nasdaq India. (Reporting from Pragyan in Bengaluru. Editing by Jonathan Ananda.
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US officials claim that the US demands Iran to stop its attacks on the Hormuz Strait.
Senior?U.S. officials have said that the United States demands that Iran publicly'state that it will stop attacking ships in the Strait of Hormuz, and that all lanes in the Strait will be opened to shipping without any tolls. Officials from the United States said Friday that Iran has refused to give up control of the Strait of Hormuz, a strategic waterway through which a fifth of world oil flows. Iran has refused to relinquish control of the Strait, a strategic waterway that is used by a fifth the world's supply of oil. U.S. officials stated that recent conversations between the U.S. and Iran had been fruitful. The officials made their comments in a conference to a small number of journalists. "We're demanding that the Iranians release a public statement that acknowledges that all channels of Strait of Hormuz remain open and that they are no longer shooting at ships. "They have to make that public statement, or else we won't be able to get a positive outcome for them," said an official. Iran told Washington that recent attacks against shipping in the Strait of Hormuz were caused by "a errant component of their system", according to a senior official. An official stated that there appears to be a real-time power struggle between hardliners and pragmatics in Iran. This week, three Qatari and Saudi tankers were 'under fire.' The U.S. responded by hitting Iranian sites and Iran responded with strikes against U.S. military bases in Gulf states. Donald Trump, the U.S. president, has declared that both sides have broken their ceasefire agreement signed in June. Iran's official news service IRNA reports that Iranian Foreign Minister Abbas Araqchi is traveling to Oman this Saturday to discuss bilateral relations, regional developments and the situation in the Strait. "We hope to reach a point where they publicly acknowledge that they messed up and stop shooting at boats. "We are working on it now," said an official. The official stated that "the president has ordered us to speak, but as he has shown a willingness, if they continue to shoot at ships or engage in any other hostile act, we will hit them back." The U.S.'s fundamental demand is that Iran hand over its nuclear material. Tehran is thought to have more than 900 lbs. of highly enriched Uranium. Trump and other U.S. official call this "nuclear powder." Negotiations are supposed to take place over a period of 60 days based on the memorandum that was signed by both countries in June. One official stated, "I just want to make it clear that we will not have an agreement with Iran if we fail to get the dust." If Iran does not agree, the official stated that "we have many options", including military and economical options. (Reporting by Steve Holland; Editing and Sanjeev miglani, David Ljunggren)
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Iran media reports that the fire at a western Iranian mini refinery has been contained.
The semi-official YJC Iranian news agency, citing a local source, reported that a fire which broke out on Friday?at 'the Oxin Palayesh'mini-refinery' in Iran's western Lorestan Province has been put out. YJC quoted the safety manager at Lorestan Industrial Estates Company as saying that the fire was contained to a 'barrel of waste oil' and 'didn’t spread to refinery facilities or storing tanks. Iranian state media reported earlier that a fire had broken out just after 5 pm local time, sending a thick smoke column over Poldokhtar. Firefighters initially struggled to contain the blaze due to its 'intensity' and presence of flammable material. The state media reported that the deputy governor of?Lorestan said no fatalities or injuries were reported, and the cause of the fire is being investigated. The deputy governor said that preliminary reports showed?that it was likely the raw materials section of the industrial unit which caused the fire. Enas Alashray, Louise Heavens, and Edmund Klamann edited the report.
Oil and stocks rise as AI takes over, easing fears about Iran.
Global stocks reached record highs Monday, as AI continued to drive the demand. This was offset by news of new attacks in the Gulf which lowered optimism for a reopening of Strait of Hormuz. Oil prices also rose.
The U.S. president Donald Trump has been quiet about the progress of negotiations between Washington and Tehran, until he posted that everyone should just "sit back and relax".
On Saturday, Defense secretary Pete Hegseth stated that the U.S. would be ready to resume attacks against Iran if an agreement could not come about. News broke on Monday that U.S. troops had struck Iranian targets at the weekend. Tehran had responded, and Kuwaiti defences intercepted missiles and drones.
Brent crude futures rose by nearly 3% to $94 per barrel. This prompted a sale of government bonds that were hurt by expectations that interest rates would rise in order to combat inflation spikes.
The?MSCI All-World Index was up 0.13%, trading at or near record highs as markets from Tokyo and Seoul traded at all-time highs. This was backed by the demand for AI-related products.
The market believes that Iran/U.S. negotiations are still ongoing, despite the attacks on both sides. "A deal will be reached to end the Middle East war and reopen the 'Strait of Hormuz,'" XTB Research Director Kathleen Brooks stated.
Investors should be watching how this is played out, as any delay could affect the market sentiment.
Data showing South Korea’s exports increased at their fastest annual rate in over four decades in the month of May, hitting a record $87.75 Billion.
Nvidia's Jensen Huang will kick off the Computex show in Taiwan with a speech on AI on Monday. He is expected to elaborate on the latest product efforts of his company as well as Taiwan's role as a leader in the industry.
PAYROLLS Ahead
European stocks fell marginally for the day as gains in energy shares were offset by losses among airlines and defence shares.
S&P futures rose 0.3% while Nasdaq Futures climbed 0.5%, after both benchmarks reached records last week.
Oil inflation continued to be a drag on bond markets. U.S. 10 year yields increased?1 basis points to 4.46%. Yields on German 10-year debt rose by 4.2 bps to 2.98%.
This week, a number of Fed members will be speaking. Also on Friday are the ISM manufacturing survey and the May payroll report.
The market forecasts a steady increase of 85,000 jobs, which will keep the unemployment rate at 4,3%. Any stronger would likely reduce the chances of an increase.
Chris Weston, Pepperstone's chief market strategist, said that the Federal Reserve should continue to present speakers who will promote a two-way approach in which officials are open to rate increases and rate reductions depending on new data.
Expectations may grow that the Fed will 'gradually move away from its easing policy bias and towards a more neutral policy stance over the coming months.
The markets indicate a 50-50 chance that the Federal Reserve may have to raise rates by the end of the year, which has allowed the dollar to remain strong against a variety of currencies, notably the Japanese yen.
The dollar is up 0.12% against yen, at 159.46. This is just below the 160-mark that many think could spark another round of government intervention to boost the Japanese yen.
(source: Reuters)